Section 68: Loan Deemed Unexplained Cash Credit Requires Documentary Evidence for Repayment; No Additions Justified Here.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Addition u/s 68 on account loan which was held as unexplained cash credit - once repayment of the loan has been established based on the documentary evidence, the credit entries cannot be looked into isolation after ignoring the debit entries despite the debit entries were carried out in the year or later years. - No additions - AT....